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Treasuries Approaching The Bull Channel Base

  • Treasury futures have traded lower this week.
  • The contract is once again approaching its key bull channel support drawn from the Mar 30 low.
  • The channel base intersects at 133-13+ and marks a key support - the channel base has provided support a number of times over the past few months.
  • A break would highlight a bearish reversal.
  • Bulls will be looking for the channel to hold and for a return higher, initially towards 134-19+, Aug 17 high.

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